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CONDITIONS OF SALE - CONTINUED

the American Arbitration Association. The arbitrator’s award LIMITED RIGHT OF RESCISSION REMEDY AGAINST BONHAMS FOR ANY REASON
shall be in writing and shall set forth findings of fact and WHATSOEVER IS THE LIMITED RIGHT OF
legal conclusions. If within one (1) year from the date of sale, the original RESCISSION DESCRIBED IN THIS SECTION.
purchaser (a) gives written notice to us alleging that
(c) Unless otherwise agreed to by the parties or provided the identification of Authorship (as defined below) of “Authorship” means only the identity of the creator, the
by the published rules of the national arbitration service: such lot as set forth in the BOLD TYPE heading of period, culture and source or origin of the lot, as the
the catalog description of such lot (as amended by any case may be, as set forth in the BOLD TYPE heading of
(i) the arbitration shall occur within 60 days following the saleroom notices or verbal announcements during the the print catalog entry. The right of rescission does not
selection of the arbitrator; sale) is not substantially correct based on a fair reading extend to: (a) works of art executed before 1870 (unless
(ii) the arbitration shall be conducted in the designated of the catalog (including the terms of any glossary these works are determined to be counterfeits created
location, as follows: (A) in any case in which the subject contained therein), and (b) within 10 days after such since 1870), as this is a matter of current scholarly
auction by Bonhams took place or was scheduled to notice returns the lot to us in the same condition as at opinion which can change; (b) titles, descriptions, or
take place in the State of New York or Connecticut or the the time of sale, and (c) establishes the allegation in the other identification of offered lots, which information
Commonwealth of Massachusetts, the arbitration shall notice to our satisfaction (including by providing one or normally appears in lower case type below the BOLD
take place in New York City, New York; (B) in all other more written opinions by recognized experts in the field, TYPE heading identifying the Authorship; (c) Authorship
cases, the arbitration shall take place in the city of San as we may reasonably require), then the sale of such lot of any lot where it was specifically mentioned that
Francisco, California; and will be rescinded and, unless we have already paid to there exists a conflict of specialist or scholarly opinion
the consignor monies owed him in connection with the regarding the Authorship of the lot at the time of sale; (d)
(iii) discovery and the procedure for the arbitration shall sale, the original purchase price will be refunded. Authorship of any lot which as of the date of sale was in
be as follows: accordance with the then generally-accepted opinion of
If, prior to receiving such notice from the original scholars and specialists regarding the same; or (e) the
(A) All arbitration proceedings shall be confidential; purchaser alleging such defect, we have paid the identification of periods or dates of creation in catalog
(B) The parties shall submit written briefs to the arbitrator consignor monies owed him in connection with the descriptions which may be proven inaccurate by means
no later than 15 days before the arbitration commences; sale, we shall pay the original purchaser the amount of scientific processes that are not generally accepted
of our commissions, any other sale proceeds to which
(C) Discovery, if any, shall be limited as follows: (I) we are entitled and applicable taxes received from for use until after publication of the catalog in which the
property is offered or that were unreasonably expensive
Requests for no more than 10 categories of documents, the purchaser on the sale and make demand on the or impractical to use at the time of such publication.
to be provided to the requesting party within 14 days consignor to pay the balance of the original purchase
of written request therefor; (II) No more than two (2) price to the original purchaser. Should the consignor LIMITATION OF LIABILITY
depositions per party, provided however, the deposition(s) fail to pay such amount promptly, we may disclose
are to be completed within one (1) day; (III) Compliance the identity of the consignor and assign to the original EXCEPT AS EXPRESSLY PROVIDED ABOVE, ALL
with the above shall be enforced by the arbitrator in purchaser our rights against the consignor with respect PROPERTY IS SOLD “AS IS.” NEITHER BONHAMS NOR
accordance with California law; to the lot the sale of which is sought to be rescinded. THE CONSIGNOR MAKES ANY REPRESENTATION
Upon such disclosure and assignment, any liability of OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE
(D) Each party shall have no longer than eight (8) hours to Bonhams as consignor’s agent with respect to said lot MERCHANTABILITY, FITNESS OR CONDITION OF
present its position. The entire hearing before the arbitrator shall automatically terminate. THE PROPERTY OR AS TO THE CORRECTNESS
shall not take longer than three (3) consecutive days; OF DESCRIPTION, GENUINENESS, ATTRIBUTION,
The foregoing limited right of rescission is available to PROVENANCE OR PERIOD OF THE PROPERTY OR
(E) The award shall be made in writing no more than 30 the original purchaser only and may not be assigned AS TO WHETHER THE PURCHASER ACQUIRES ANY
days following the end of the proceeding. Judgment to or relied upon by any subsequent transferee of COPYRIGHTS OR OTHER INTELLECTUAL PROPERTY
upon the award rendered by the arbitrator may be the property sold. The purchaser hereby accepts RIGHTS IN LOTS SOLD OR AS TO WHETHER A WORK
entered by any court having jurisdiction thereof. the benefit of the consignor’s warranty of title and OF ART IS SUBJECT TO THE ARTIST’S MORAL RIGHTS
To the fullest extent permitted by law, and except as other representations and warranties made by the OR OTHER RESIDUAL RIGHTS OF THE ARTIST. THE
required by applicable arbitration rules, each party shall consignor for the purchaser’s benefit. Nothing in PURCHASER EXPRESSLY ACKNOWLEDGES AND
bear its own attorneys’ fees and costs in connection with this section shall be construed as an admission by AGREES THAT IN NO EVENT SHALL BONHAMS BE
the proceedings and shall share equally the fees and us of any representation of fact, express or implied, LIABLE FOR ANY DAMAGES INCLUDING, WITHOUT
expenses of the arbitrator. obligation or responsibility with respect to any LIMITATION, ANY COMPENSATORY, INCIDENTAL OR
lot. THE PURCHASER’S SOLE AND EXCLUSIVE CONSEQUENTIAL DAMAGES.

SELLER’S GUIDE
SELLING AT AUCTION as “photo auction estimate”. Alternatively, you can submit your tax and family division purposes and reflect prices paid by a willing
request using our online form at www.bonhams.com/us. Digital buyer to a willing seller.
Bonhams can help you every step of the way when you are ready to images may be attached to the form. Please limit your images to no
sell art, antiques and collectible items at auction. Our regional offices more than five (5) per item. When we conduct a private appraisal, our specialists will prepare a
and representatives throughout the US are available to service all of thorough inventory listing of all your appraised property by category.
your needs. Should you have any further questions, please visit our CONSIGNING YOUR PROPERTY Valuations, complete descriptions and locations of items are included
website at www.bonhams.com/us for more information or call our After you receive an estimate, you may consign your property to us for in the documentation.
Client Services Department at +1 (415) 861 7500.
sale in the next appropriate auction. Our staff assists you throughout Appraisal fees vary according to the nature of the collection, the
AUCTION ESTIMATES the process, arranging transportation of your items to our galleries amount of work involved, the travel distance, and whether the
(at the consignor’s expense), providing a detailed inventory of your property is subsequently consigned for auction.
The first step in the auction process is to determine the auction value consignment, and reporting the prices realized for each lot. We provide
of your property. Bonhams’ world-renowned specialists will evaluate secure storage for your property in our warehouses and all items are Our appraisers are available to help you anywhere and at any time.
your special items at no charge and in complete confidence. You can insured throughout the auction process. You will receive payment for Please call our Client Services Department to schedule an appraisal.
obtain an auction estimate in many ways:
your property approximately 35 days after completion of sale. ESTATE SERVICES
• Attend one of our Auction Appraisal Events held regularly at our Sales commissions vary with the potential auction value of the Since 1865, Bonhams has been serving the needs of fiduciaries –
galleries and in other major metropolitan areas. The updated property and the particular auction in which the property is offered. lawyers, trust officers, accountants and executors – in the disposition
schedule for Bonhams Auction Appraisal Events is available at Please call us for commission rates. of large and small estates. Our services are specially designed to aid
www.bonhams.com/us. in the efficient appraisal and disposition of fine art, antiques, jewelry,
• Call our Client Services Department to schedule a private appointment PROFESSIONAL APPRAISAL SERVICES and collectibles. We offer a full range of estate services, ranging from
at one of our galleries. If you have a large collection, our specialists can Bonhams’ specialists conduct insurance and fair market value flexible financial terms to tailored accounting for heirs and their agents
travel, by appointment, to evaluate your property on site. appraisals for private collectors, corporations, museums, fiduciaries to world-class marketing and sales support.
and government entities on a daily basis. Insurance appraisals, used
• Send clear photographs to us of each individual item, including for insurance purposes, reflect the cost of replacing property in For more information or to obtain a detailed Trust and Estates
item dimensions and other pertinent information with each picture. today’s retail market. Fair market value appraisals are used for estate, package, please visit our website at www.bonhams.com/us or
Photos should be sent to Bonhams’ address in envelopes marked contact our Client Services Department.
SF-CA/MAIN/V2/07.17